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WTI Midlands to Be Included In Platts Brent Assessment from June

OIL

Platts will include U.S. WTI Midlands crude in its Brent oil benchmark from June, as previously guided the pricing agency said in an IE forum today.

  • Platts will accept 11 U.S. Gulf Coast terminals as supply points for WTI Midland crude into the Brent benchmark complex.
  • WTI Midland will be the first grade from outside the North Sea to be included in Brent. It is being added because of Brent’s long term supply decline.
  • Platts will also increase the physical cargo size to 700,000 barrels from the current 600,000.

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